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 Replies: 14 / Views: 3,082 |
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Valued Member
United States
194 Posts |
I am soooo new to collecting but really enjoying all the information I am finding. I have probably a very dumb question but I just HAVE to ask it. There are so many "errors" and they seem to be everywhere and extremely expensive. I have seen some butt ugly coins going for thousands on many different sites. The king of ugly (IMO) are those that are stamped on the wrong planchet, or have extra peices of coin hung off of them. WHY would anyone pay so much for what is obviously a horrible mistake? [:0] It seems these coins command a much higher price then a "perfect" coin does. I guess I could understand a minor (but still attractive) error being an interesting peice, but if I were spending that much money, I'd want perfect. And even some of the minor error's appear to command so much money. I don't mean to insult anyone who collects these types of coins, I am just curious as to what would draw someone to a damaged coin over a perfect coin. I am learning and this question has really puzzled me. Any input is welcome, just be gentle.  Thanks |
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Pillar of the Community
United States
1247 Posts |
I've always suspected that it's the doctrine of perfection that coin collectors are subjected to-- with Chinese water torture regularity-- that causes them to seek out errors as well as exonumia. It's not unusual to find collectors in both areas at the same time. And even collectors who collect tokens with errors on them. Maybe we're secretly "Rebelling against the Crown."  |
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Member
United States
703 Posts |
Welcome and Great question. I collect major ( and minor) Mint errors. I have a "type set" of one date with examples of over 40 different kinds of Major Mint errors. These coins fasinate me. Some are very expensive while others can be had just a few for a few bucks. Many of my coins are one-of-a-kind pieces that NO ONE ELSE CAN possibly own. Look at the mintage of modern coins. Major Errors have just a fraction of a percent of these high mintages making them rare. The mint has put in measures to try to keep errors from being released. Since I have been collecting errors, the prices have gone up dramaticly. Go check out some major error coins at: http://www.fredweinberg.com/or http://www.byersnc.com/Good luck and collect WHAT YOU LIKE!!!! as for those "perfect " peices, I would much rather have some major error such as struck on wrong planchet error, which WILL ALWAYS be worth more the a PCGS MS70 example of the same coin. Edited by Errorcoins
08/03/2005 11:40 pm
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Pillar of the Community
United States
7123 Posts |
Hi Margaret
Welcome to the Forum !!!
Truely rarity is the main Issue on error coins when speaking of value, considering the Millions or even Billions of coins minted each year some are one of a kind !! secondary to the Rarity would be the beauty that some find when looking at error coins, for sure to some they look ugly and deformed , but to an error collector who is passionate , they are indeed beautiful.
Rick
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Pillar of the Community
United States
1541 Posts |
I'm new to all this too. And I was wondering, these error coins doesn't get into the market in big numbers right? So how do you go looking for error coins?
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Member
United States
703 Posts |
It is almost impossible to find Major mint errors. It is very easy to buy major mint error...just go to ebay. Finding minor errors is not that hard at all. You just need good magnification and good light. I suppose it is possible to find a major error nowadays, but I would think it would be something like a struck on wrong planchet, major clip, on center double strike. Most all the other errors that aren't the normal size will be caught by the mint. IMO this by far is the most interesting area of coin collecting, good luck. |
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Member
United States
703 Posts |
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Pillar of the Community
United States
2724 Posts |
quote:
Originally posted by shatsi
And I was wondering, these error coins doesn't get into the market in big numbers right?
There are literally hundreds of thousands of error coins. Some small, some big. While many can be found on places like ebay, the "monster" error coins can be purchased at any major show. You can choose from thousands. |
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Valued Member
United Kingdom
188 Posts |
quote:
Originally posted by Margaret
There are so many "errors" and they seem to be everywhere and extremely expensive. I have seen some butt ugly coins going for thousands on many different sites. The king of ugly (IMO) are those that are stamped on the wrong planchet, or have extra peices of coin hung off of them. WHY would anyone pay so much for what is obviously a horrible mistake? [:0] It seems these coins command a much higher price then a "perfect" coin does. I guess I could understand a minor (but still attractive) error being an interesting peice, but if I were spending that much money, I'd want perfect. And even some of the minor error's appear to command so much money.
I've been collecting 15 years and I still can't figure out the answer to that question. Personally I too aim for the most perfectly struck example I can find. |
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Valued Member
United Kingdom
188 Posts |
quote:
Originally posted by longnine009
I've always suspected that it's the doctrine of perfection that coin collectors are subjected to-- with Chinese water torture regularity-- that causes them to seek out errors as well as exonumia. It's not unusual to find collectors in both areas at the same time. And even collectors who collect tokens with errors on them. Maybe we're secretly "Rebelling against the Crown."
I think I must be an agent of the Crown then. I don't collect tokens, I avoid errors and I generally only collect coins with monarchs on them... ;) I am a major conformist. |
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Pillar of the Community
United States
2271 Posts |
The beauty of errors is that each one says volumes about
how coins are made. If you don't understand the process
and how it can fail it's about impossible to learn how to
grade. Look at any major error and study it or ask ques-
tions until you understand.
These also make nice collectibles in their own right.
The mint has hugely tightened up on quality control in re-
cent years so most new errors are getting very hard to find
and expensive.
Time don't fly, it bounds and leaps.
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Pillar of the Community
United States
1247 Posts |
quote:
Originally posted by Ætheling
quote:
Originally posted by longnine009
I've always suspected that it's the doctrine of perfection that coin collectors are subjected to-- with Chinese water torture regularity-- that causes them to seek out errors as well as exonumia. It's not unusual to find collectors in both areas at the same time. And even collectors who collect tokens with errors on them. Maybe we're secretly "Rebelling against the Crown."
I think I must be an agent of the Crown then. I don't collect tokens, I avoid errors and I generally only collect coins with monarchs on them... ;)
I am a major conformist.
You guys also say shed-yule instead
of schedule. But that's okay, we like
ya anyway.
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Valued Member
 United States
194 Posts |
Thanks everyone for all the replies. I am enjoying the different points of veiw. Errorcoins, I had surfed Weinberg's site and that's what got me thinking .... (that usually means trouble around here) Coins are a whole different world, my first impression was to liken these major error coins to buying a new and expensve car, delivered from the factory with a mangled bumper and no transmission. I am going to have rethink the whole idea. CladKing, you're right, I really don't yet understand the whole minting process and hope to learn more as I go along. It was just amazing to me that there would be such a big market for these. I have never thought of myself as a perfectionist, but well struck coins appeal to me. Minor errors that don't really detract as a whole from a coin are also appealing to me. I will continue to veiw these major error coins and see perhaps if I can see what others see. Half the fun of collecting is "looking". That being said...........I just finished reading an article in COINage magazine about the first San Francisco mint, very good read, and on page 37 there is a picture of a 1857 $20 gold eagle that I want. Please don't anyone tell me how much one fo these would cost, I am pretty sure I don't want to know. It was just a stunning coin!! Everyone needs a dream right? Margaret |
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Valued Member
United Kingdom
188 Posts |
quote:
Originally posted by cladking
The beauty of errors is that each one says volumes about
how coins are made. If you don't understand the process
and how it can fail it's about impossible to learn how to
grade. Look at any major error and study it or ask ques-
tions until you understand.
I never really did much research into the minting process, it's not something I ever really needed to do or am all that bothered about. With the coins I collect it's as complicated as this. The moneyer cuts out a piece of silver from a strip, weights it to the correct weight. Takes his dies, places the blank on the bottom one, brings the top one down upon it and then reaches for his hammer. A few strikes of that, then take out the newly cut coin and weight it again. Throw it on the pile, next coin... That's as much as I needed to know. I'm into coins for their history the Kings, the Queens, the wars, the great voyages, the struggles, the strife, the plague and the ordinary townsfolk. Not for mintage figures, or techincalities of the minting process which is incidental. |
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Valued Member
United States
458 Posts |
Hi Magaret, Welcome to the forum. I myself still don't understand why sumbody would pay so much money for a mangled ugly wrongly struck coin, of what ever make & model whether an error or not--Now varietys I much more appreciate, at least they will be intact--if its not an error that is. I am like you and Atheling, I like & want the most perfect example in the most highest grade I can find & afford . Now as for your $20 gold peice here are 2 on ebay that are not very high end (IMHO), if in a BU state probably better (AND more expensive), BUT look at the prices for these in AU condition--wow--[:0] http://cgi.ebay.com/1857-S-20-Gold-...cmdZViewItem And this one-- http://cgi.ebay.com/1857-S-20-Gold-...cmdZViewItem OUCH!!  Edited by CiScO
08/05/2005 8:01 pm
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Replies: 14 / Views: 3,082 |
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Posted 08/03/2005 11:32 pm
